Frugal spinster who lived in modest tenement flat stuns family with £1m estate... which she leaves almost all to charity By David Meikle

Frugal: Margaret Dickson's wealth only came to light when she from cancer at the age of 72

She lived frugally in a modest tenement flat.

But behind spinster Margaret Dickson’s parsimonious lifestyle lay a secret personal fortune.

However, her death from cancer at the age of 72 has brought Miss Dickson’s wealth to light, stunning family and friends.

The vast majority of the Glaswegian’s £1.1million estate has been left to charity, with only £20,000 going to her nearest and dearest.

Miss Dickson, who formerly taught in Ruchazie, Glasgow, had not worked since 1986 after being injured by falling scaffolding while on duty as a WPC for the Metropolitan Police Service in London.

But a stockbroker uncle advised her on investments –  and her fortune grew.

An only child who never married, she had lived alone in Glasgow’s Riddrie area since 2005 and appeared to care little for creature comforts. Her only indulgence was foreign travel.

She died in March last year following a two-and-a-half-year battle with lung cancer.

Her cousin Jean Brock, 63, said her fortune had stunned her and her husband Ian.

She added: ‘We were appointed executors, so we got to see her will – and we were shocked to see how much money she actually had.

‘She lived in a very modest flat and didn’t live an extravagant lifestyle. She had three separate bank accounts, each containing £100,000. The rest came from stocks and shares.

 

‘Nobody had any idea how much the will was worth or just how much her wealth had accumulated.’ 

Miss Dickson’s estate was worth £1,119,455.73. While £20,000 was left to family and friends, Cancer Research UK and the British Heart Foundation (BHF) were each given £250,000. Barnardo’s, the National Institute for the Blind and the Royal National Lifeboat Institute received £180,000 each.

The spinster’s flat was worth £72,500 and her personal belongings were valued at £2,000.

Hidden fortune: Miss Dickson lived in a modest Glasgow tenement home. Her family were stunned when her £1.1m secret fortune was revealed after her death - the majority of which she left to charities helping people suffering from cancer and heart issues

She had £63,000 of shares in Marks & Spencer, £62,000 of shares in British American Tobacco and £230,000 invested in Government-backed National Savings and Investments.

She also had many thousands of pounds in various bank accounts.

Miss Dickson fell ill shortly after her 70th birthday, when doctors discovered a shadow on her lung which turned out to be cancerous.

Mr Brock said: ‘She was getting weaker, so we got carers in before she moved into the hospice for the last seven weeks of her life. At least she was comfortable in her final days.’

Michelle Dean of Cancer Research UK said: ‘We are so grateful to Miss Dickson for thinking of the charity’s lifesaving work when making her will.’

Marjory Burns of BHF Scotland said: ‘We are extremely grateful to Miss Dickson and everyone who supports our work in this way.’